Cheats

Question 1

What are the 5 functions in Excel?

Answer 1

VLookup Formula.
Concatenate Formula.
Text to Columns.
Remove Duplicates.
Pivot Tables.

Question 2

What is the PMT formula?

Answer 2

Payment (PMT)

Payment terms for a loan or investment.

The Excel formula for it is =PMT(rate,nper,pv,[fv],[type]).

This assumes that payments are made on a consistent basis. Follow these steps to find the monthly payment amount for this loan: … The figure is red because it is a debt paid against the total loan.

Question 3

How do you calculate PMT manually?

Answer 3

The format of the PMT function is:
=PMT(rate,nper,pv) correct for YEARLY payments.
=PMT(rate/12,nper12,pv) correct for MONTHLY payments.
Payment = pv apr/12(1+apr/12)^(nper12)/((1+apr/12)^(nper*12)-1)